How long does the approval process take?
A. Innovative Merchant Solutions is a pioneer in the industry in terms of new account approval times. After you have completed and returned your Merchant Application, in most cases your account can be approved and on line for processing in 24 to 48 business hours. In some cases our New Accounts Department can have a response to your application the same day it is received.
Typically the industry standard is from 24-48 hrs depending on how the paperwork is obtained either through an online application or mailed application. I would give yourself a week time in advance so you can cross you Ts and dot your Is. If you are started a new business then I would take time in discussing your needs and go over the rates and credit card terminals you will be using. If you are switching over the process is much more immediate and you can expect a speedy turnaround time. Upon receipt of the application and required supporting documents, our in-house Underwriting Department will begin the review process of your application. The average timeframe for approval is 24-48 hours for domestic accounts, 10-14 days for Canadian accounts, and 3-4 weeks for International accounts. The setup and deployment of your merchant account will be within 24 hours of approval.
